Indonesia 2003 domestic cement sales

Published:
02 February 2004

Indonesian domestic cement sales in 2003 were almost flat, growing only one percent from the year earlier, the country’s top cement producer PT Semen Gresik Tbk (SMGR.JK) reported on its website on Sunday. Analysts had expected a relatively flat cement sales growth last year due to weaker demand following rises in fuel and utility prices but forecast better performance in 2004 as the election year would bring more infrastructure projects. "We expect the re-instatement of government’s infrastructure projects coupled with the pick-up in the development of private projects for the middle to upper classes to provide support on the domestic cement consumption growth," UBS said in its recent research note. It forecast domestic cement sales to grow at eight per cent a year in the next three years.